The basic principle of statutory auditing is to ensure that the financial statements such as the Balance Sheet, Profit & Loss Account and Cash Flow Statement give a true & fair view and are free from any material misstatements. Our audit approach comprises of deep understanding of business and the industry in which client operate to enable us to design an effective audit plan. Our Audit Methodology has been designed to comply with the International Standards on Auditing, current statutes, Indian Accounting Standards and the guidelines issued by the regulatory board from time to time.
Tax Audit is an examination of an entities tax affairs to check whether the transactions undertaken by them are as per the prevailing tax laws like the declaration of all the assessable income or are they entitled to certain tax reductions or any tax offsets which they had claimed in their tax return. Our dedicated tax team is well conversant with the tax laws of India and they are presently assisting many of our clients to file their tax audit returns within time.
IFRS is becoming the global accounting reporting standard in many countries, however, many companies are unaware or unprepared for the complexities this change represents. Conversion/transition/ Business transformation to IFRS affects almost all the business functions of an enterprise such as Organisation structure, Legal contracts, accounting and finance, taxation, corporate responsibilities, and executive compensation. We help our clients realize many of the opportunities that this change presents by assessing the likely impact of this conversion across all the business functions and to help develop plans for implementing the necessary changes.
As per Companies Act 2013, the statutory auditor is required to state in his audit report whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls. We assist our clients to understand the various aspects of this new reporting requirements and undertake the testing/audit of internal financial controls over financial reporting.
We also provide Internal Audit of Financial transactions, Internal Audit and compliance checking of all the laws applicable to a specific company, Internal Audit of FMCG stores., Internal controls & deficiency check Audit, Internal Audit Readiness Review (Readiness audit before proper Internal audit by third party), Fixed Assets Audit, Stock Audit, Distributor claims Audit, Market Hygiene Audit, ROI Audit, Infra Assessment Audit, Collection and Investment tracker Audit, Employee’s Investment proof verification Audit, Salary re-structuring services for income tax optimization, Salary verification / Payroll Audit, Store vigilance audit for FMCG business, Product Cost analysis, Business Valuation services and preparation of business projections and E-way bill generation support.